Advantages of a Strong Memory in Business
From the Editor
Hey Everyone,
Welcome to the 147th issue of the Aussie Painting Contractor Magazine.
Its been a month of holidays here with most of our amazing staff having a break.
On a working note, though, we welcome Peter and Aiden to our team. They are on the phones when you call in and need anything recruitment. We currently have 124 applicants currently looking for apprenticeships. If you are considering putting on an apprentice, please reach out as we should have your needs covered. We have school-based apprentices that if you work it properly you can have 2 working 2 days a week and then have the extra sets of hands for the school holidays.
Our Painting Your Career Program is still going strong with us getting more participants looking for apprenticeships.
Our Platinum Package with access to the SellSmart Platform is starting to bring in leads for those members that have taken up the offer. Keep an eye out for the new benefits as they are released.
I have had the honour of being selected as a finalist in the NAWIC Male Allies Award and am off to Sydney in a couple of weeks for the evening. On another note, I am also in the top 5 for VET Teacher or Trainer of the Year. The winner is going to be announced on the 25th July. It has been a bit of a whirl wind of a start of the year for these things.
'Til next month, Happy Painting!!
Nigel Gorman
nigel@aussiepaintersnetwork.com.au 07 3555 8010
CONTRIBUTORS
• Caroline Miall
• Gary Mortimer
• Jim Baker
• Leo Babauta
• Matthew Grosse
• Nigel Gorman
• Oliver Kay
• Robert Bauman
• Sandra Price
EDITOR
Nigel Gorman
GRAPHIC DESIGNER
J. Anne Delgado
Celebrating Allies, Advocates and Excellence Nigel Gorman Named Finalist in Two Major Awards
Beware of Unsolicited Emails Claiming to Protect Your Brand
17 ways to get REPEAT BUSINESS
Can you spot a financial fake? How AI is raising our risks of billing fraud
The Problem of Having TOO MUCH TO DO
TAX TIPS for small business owners
Advantages of a Strong Memory in Business
Self-Employed Tradies Checklist
Avoid These 5 Costly Accounting Mistakes
You Don’t Need to Feel Ready to Begin Does YOUR Business Reflect YOUR Passion?
3.5 million Australians experienced fraud last year. This could be avoided through 6 simple steps
Opinions and viewpoints expressed in the Aussie Painting Contractor Magazine do not necessarily represent those of the editor, staff or publisher or any Aussie Painters Network’s staff or related parties. The publisher, Aussie Painters Network and Aussie Painting Contractor Magazine personnel are not liable for any mistake, misprint or omission. Information contained in the Aussie Painting Contractor Magazine is intended to inform and illustrate and should not be taken as financial, legal or accounting advice. You should seek professional advice before making business related decisions. We are not liable for any losses you March incur directly or indirectly as a result of reading Aussie Painting Contractor Magazine. Reproduction of any material or contents of the magazine without written permission from the publisher is strictly prohibited.
Celebrating Allies, Advocates and Excellence Nigel Gorman Named Finalist in Two Major Awards
It’s awards season – and this year, we’ve got plenty to celebrate!
We are incredibly proud to share that Nigel Gorman, co-founder of Aussie Painters Network and Women in Painting, has been named a finalist in not one, but two prestigious awards:
The Male Allies Award with the National Association of Women in Construction (NAWIC)
And Trainer of the Year in the Queensland Training Awards.
Both nominations reflect Nigel’s unwavering commitment to equity, mentorship, and long-term industry impact. Over the past 14 years, Nigel has been a driving force behind the Aussie Painters Network, building resources, creating employment pathways, and advocating for improved training in the painting and decorating industry. His influence has helped hundreds of painters – from apprentices to business owners –grow their skills and careers.
In recent years, his dedication has only grown stronger. Through the launch of Women in Painting, Nigel has championed meaningful cultural change in what is still a male-dominated industry. From mentoring
female apprentices to designing inclusive programs and pushing for systemic change, he continues to lead by example — not just talking about gender equity, but actively creating space for it to thrive.
On the topic of nominations, and even further testament to the quality programs and training APN have provided to date, Nigel’s apprentice, Ali Maher, has also been named finalist for Queensland Training Awards, as Apprentice of the Year! Ali started with us in a six-week, unpaid, pre-apprenticeship program Trade Ready, is about to complete her Cert III, and compete for the second time in the Worldskills National competition!
These finalist announcements are a chance for all of us to pause, reflect, and celebrate one of our industry’s most passionate contributors.
Please join us in wishing Nigel (and Ali!) the very best of luck as the awards ceremonies approach. We know how much heart, energy, and time he pours into this work — and it’s time the broader industry saw it too. Congratulations, this recognition is so well deserved!
— The Women in Painting Team
Beware of Unsolicited Emails Claiming to Protect Your Brand
In recent weeks, business owners have reported receiving unsolicited emails from individuals falsely claiming to be Trade Mark Attorneys representing organisations such as “Trademark Registry Hub” or “Patents Registry Hub.” These emails often target businesses that have registered a business name but lack trade mark protection, creating a false sense of urgency to act.
The message? Recipients are misled into believing their business name or brand is at risk from a third party unless they immediately engage the sender to lodge a trade mark application on their behalf. These emails rely on fear tactics and often appear genuine, even containing accurate details about the recipient’s business – information likely obtained from public registers.
Why These Emails Are a Scam
Here are some red flags to watch out for:
Identical Messages: These emails follow the same format and wording, which is a common tactic in scams. Inaccurate Legal Claims: The legal advice provided in these emails is often incorrect, misleading, and based on misinterpretations of the Trade Marks Act 1995 (Cth). Nonexistent Organisations: “Trademark Registry Hub” and “Patents Registry Hub” do not appear on the ASIC Register and are not listed on the official Trans-Tasman IP Attorneys Regulation website. Impersonation: The senders appear to be fraudulently using the names of legitimate Trade Mark Attorneys who work for credible legal firms.
IP Australia (the Australian Government agency that administers intellectual property rights and legislation including in relation to trade marks) has published a copy of the template email as an example (as shown below):
What Should You Do If You Receive One of These Emails?
If you encounter an email like this, do not respond. Here are some steps to take instead:
Verify the Sender: If you’re unsure about an email, check whether the organisation exists on the ASIC Register or the Trans-Tasman IP Attorneys Regulation website.
• Consult a Professional: Reach out to a trusted legal professional or trade mark attorney to confirm the legitimacy of the claims.
• Stay Calm: While the emails may appear convincing, remember that much of the information included is publicly available and does not indicate a real threat.
Protecting Your Business
Receiving emails like these can be unnerving, but staying informed is your best defence. Protecting your brand with proper trade mark registration is a proactive way to safeguard your business against potential risks – real or fabricated.
If you’re unsure about whether your business name or brand is adequately protected, contact us for a consultation. We’ll help you navigate your options and ensure your intellectual property is secure.
Remember, while this information provides a general overview, legal advice tailored to your specific circumstances is invaluable. Don’t hesitate to contact Rise Legal for personalised guidance or book in a free Discovery Call.
Disclaimer: This blog post is intended for informational purposes only and should not be considered legal advice. Consult with a qualified commercial lawyer for personalised advice related to your specific circumstances.
17 ways to get REPEAT BUSINESS
Q. I am finding it tough. Sales are slowing but I can’t figure out exactly why. No-one seems to be unhappy with what we do, and no competitor has entered the market. People seem to be buying less often and in lower numbers.
Your existing customers are your most valuable asset. This is because it’s easier and far less expensive to get an existing customer to buy off you again than to find new customers. So here are 17 ways to gain repeat business from existing customers, or to get your customers to think more positively about your business. The golden rule for success in business is to get your customers to believe that they are more important to you than anyone else.
Because small businesses are very diverse, not all these tactics will be relevant to your particular business. But many will be, so make a commitment NOW to try at least one, if not more, of these tactics.
Please also note that most of these ideas involve using your database of customers so make sure that you comply with the Privacy Act. (Check out the provisions of the Act at the Privacy Commissioner’s website www.privacy.org.nz where you can download the ‘Guidelines for Business’ file).
1. Send a thank-you letter within two days of the customer buying off you. If at all possible, send a note the next day. It only has to be a handwritten note on
a standard card—though a professionally typed letter is better. Other variations include sending a cartoon with your caricature to say thank you, or even a cartoon card (depending on who the customer is and how much they have spent).
2. Send an offer of a product or service that’s related to what they bought, usually after one month. Offer a discount or special deal. If you don’t have any complementary products or services, then find a business that does and offer their products. Then get that business to do something similar with their customers, but this time with your products or services as the offer.
3. If you sell products (such as printers) that use consumables, use your database date-of-sale records to predict when they might be ready to buy these consumables so that you can send them a ‘special offer’. Use the same technique for products that have a definite use-by date (such as timing the letter for when a lease arrangement on equipment is about to expire and newer technology is available).
4. Send out a questionnaire once every three to six months to see what your customers now want, and to see if your market has changed. Use the feedback to update your database and refine your product and services mix.
5. If you have a small number of loyal customers, then continue to acknowledge their custom with simple ideas like sending birthday and Christmas cards to them.
6. Try a telemarketing exercise. Ring up the customer with a brief message about a special or new product they may like to try. If possible make the offer free, or offer some incentive that provides a genuine saving or deal for existing customers only.
7. Send out a regular or email newsletter to your customers (once every six months). Inform them about what is happening in your industry, community or area.
Give tips relating to whatever business you are in. If you run out of ideas, then contact another business to share the newsletter (you can also share costs). Note: an email newsletter costs only a fraction of a conventionally printed and posted newsletter and the Internet offers a huge resource of useful information.
8. Run a customer contest that only existing customers can enter. This rewards them for being your customer -- not the competition’s.
9. In appropriate instances you may be able to ask for referrals. Something along the lines of: ‘If you thought that we did a great job, then we’d really appreciate it if you could send us the names of three people who could also benefit from our product/service’. Or you could simply ask for your name to be passed on to any people the customer may see as needing your help.
Sometimes you can also include a special deal for their friends. Be careful here, though: don’t make this deal better than the one the original customer received!
10. If you have a new product or new technology just about to be released, then hold a ‘customer-only’ preview. Supply refreshments. This could even relate to someone else’s technology. For example, if you have just bought a new colour printer, invite your customers to see what it can do. Get them to bring in some printing so you can demonstrate on their work. You can also the supplier of the equipment to share the costs – it’s promotion for the supplier too.
11. Have a sale that is available only to existing customers. Send them an invitation that selects them out as special and points out that the public will be excluded.
12. A variation on the above is to offer existing customers first choice at your sale for a certain period
(such as a few days or a week) before the sale is opened to the public.
13. Try sending a letter or card or email that does not try and sell anything, but just keeps them informed of interesting facts or information for their use. This way, they don’t always associate hearing from you with hard sell. Instead, they come to look forward to receiving helpful information from you.
14. If your customers spend lots of money, and the profit per item is large, then send your customers relevant CDs or videos. For instance, if you sell to other businesses, you could send them CDs or videos on selling or marketing, or motivation. Or even in the case of especially good customers a video on their interests: find out from the survey you sent them what sports they follow, and then send them the corresponding video tape of rugby’s greatest tries, soccer’s best goals, highlights of the netball series or whatever. Stick your business name on the video.
15. Send customers a catalogue of all your products, and offer to direct mail to them anything they need.
16. A variation on this if you have a website is to offer preferred customers a special PIN number or password that allows them to log in to sections of your website (special discounts, sales, etc.) that others can’t access.
17. Come up with a special anniversary offer one year exactly after the customer first bought off you. If the offer is taken up, repeat the idea every year.
There must be something for every business in this list. The whole idea is to keep in contact with your existing customers, to build goodwill and positive word of mouth. By making them feel privileged and special you’re preventing the possibility that YOUR customer will be lured away by the competition. They couldn’t possibly after the way you look after them!
Can you spot a financial fake? How AI is raising our risks of billing fraud
Along with the many benefits of artificial intelligence – from providing real time navigation to early disease detection – the explosion in its use has increased opportunities for fraud and deception.
Large and small businesses and even the Australian Taxation Office (ATO) may be hit with fraudulent reimbursement claims, which are almost impossible to distinguish from legitimate receipts and invoices.
Individuals also need to be wary.
Look at the photos of the receipts shown below. One documents a genuine transaction. The other was created using ChatGPT. Can you spot the fake?
Now have a look at this one.
You possibly couldn’t – and that’s exactly the point. Systems which can reproduce near perfect counterfeits of legitimate financial documents are increasingly prevalent and sophisticated.
Last week, OpenAI released an improved image generation model which can create images with photorealistic outputs including text.
Why should we care?
Fraud involving fake financial documents is a massive global issue. The international Association of Certified Fraud Examiners estimate organisations lose approximately 5% of revenue to fraud each year.
An AI generated receipt (left) and a photo of a genuine receipt (right). Author provided.
An AI generated fraudulent receipt (left) and a photo of a genuine receipt (right). Author provided.
In its 2024 report, the association documents losses exceeding US$3.1 billion across 1,921 cases. Billing and expense fraud constitute 35% of asset misappropriation cases, with firms reporting median losses of US$150,000 per incident.
Most concerning, fraudsters primarily conceal these crimes by creating fake documents or altering files, exactly what AI now simplifies.
Fake documents enable fraud in various ways. An employee might create a fictitious receipt for a business lunch that never happened, or a contractor might fabricate receipts for expenses never incurred. In each case, the fraudster uses counterfeit documentation to extract money they’re not entitled to.
This problem is likely more widespread than recognised. A 2024 survey revealed 24% of employees admitted to expense fraud, with another 15% considering it.
Even more concerning, 42% of UK public sector decision makers confessed to submitting fraudulent claims.
AI
removes barriers to deception
Understanding how AI technology may lead to a surge in potential fraud requires examining the classic “fraud triangle”. This explains that fraud requires three elements: incentives, rationalisation and opportunity.
Historically, technical barriers limited the ability to create fake documentation even when motivation existed.
AI eliminates these barriers by making fake documentation easy to create. Research confirms when opportunity expands, fraud increases.
When fake claims become everyone’s problem
When fake receipts support tax deductions, we all pay.
Consider a marketing consultant earning $120,000, who uses an AI image generator to create several convincing receipts for non-existent expenses totalling $4,000. At their marginal tax rate of 30%, this fraud saves them about $1,200 in taxes – if they are not caught.
The Australian Taxation Office estimates a $2.7 billion annual gap from incorrectly over-claimed deductions by small businesses. With digital forgery becoming more accessible, this gap could widen significantly.
An AI generated fraudulent receipt. Author provided.
Fake receipts and invoices
Consumers are also becoming increasingly vulnerable to scammers using AI-generated receipts and invoices.
Imagine receiving what looks like an official invoice from your energy provider. The only difference? The payment details direct funds to a scammer’s account.
This is already occurring. The Australian Competition and Consumer Commission reported more than $3.1 billion lost to scams in 2023, with payment redirection fraud growing rapidly.
As AI tools make creating and editing convincing business documentation easier, these scam numbers have the potential to increase.
The growing threat
This vulnerability for both businesses and consumers is amplified by our increasing reliance on digital documentation.
Today, many businesses issue receipts in digital formats. Expense management systems typically require employees to submit photos or scans of receipts. Tax authorities also accept electronically stored documentation.
With paper receipts becoming increasingly rare and paper’s physical security features gone, digital forgeries become nearly impossible to spot through visual inspection alone.
Is digital authentication the answer?
One potential countermeasure is the Content Provenance and Authenticity (C2PA) standard. The C2PA standard embeds AI generated images with verifiable information about file origin.
However, a major weakness remains, as users can remove metadata by taking a screenshot of an image. For businesses and tax authorities, digital authentication standards are just part of the answer to sophisticated digital forgery. Yet reverting to paper documentation isn’t feasible in our digital era.
Seeing is no longer believing
AI’s ability to create realistic fake financial documents fundamentally changes our approach to expense verification and financial security.
The traditional visual inspection of receipts and invoices is rapidly becoming obsolete.
Businesses, tax authorities and individuals need to adapt quickly by implementing verification systems that go beyond simply looking at documentation.
This might include transaction matching with bank records, and automated anomaly detection systems that flag unusual spending patterns. Perhaps the use of blockchain technology will expand to help verify transactions.
The gap between what AI can create and what our systems can reliably verify continues to widen. So how do we maintain trust in financial transactions in a world where seeing is no longer believing?
Matthew Grosse
Director of the Master of Business Analytics, Senior Lecturer, Accounting, University of Technology Sydney
The Problem of Having TOO MUCH TO DO
Each day, we’re faced with a thousand decisions about what to do, because there’s just too many things on our list and in our inboxes. We can feel overwhelmed and anxiety starts to arise. This all leads to decision fatigue and indecision as well.
So how do we deal with all of this?
I’m going to recommend some things that will sound too simple. And I’m going to ask you to trust me, and give them your best effort, even if you’ve heard these a thousand times before.
Here we go!
Make
a
Short List
Every day, I encourage you to make a short list of 3 important things you’d like to get done that day. If they’re small, you can do 5. If you’re struggling to do 3 every day, just have 1 thing on your list.
Have a second list below it of a handful of other smaller things you’d also like to get done — admin tasks, little things that shouldn’t take long and aren’t a big priority but that would be good to get done.
Focus first on the first short list. How do you choose things for this short list? Choosing practice: Close your eyes, breathe, and ask yourself
what’s most important for today. A few things will arise in your mind. This can take practice, so practice every day even if you’re not good at it at first.
Pick One at a Time, and Make It Your Entire Universe
Do the same choosing practice when it’s time to do a task: what task from your short list feels most important? Pick that task, and focus on it.
Maybe you only focus on the first 20–30 minutes of it, if it’s something that feels daunting and might take a few hours. Maybe you need to sit and breathe before you start. Or do some physical movements to overcome your overwhelm about the task.
But whatever you do, don’t jump around to other things. Make this the only thing that exists in the universe. Clear everything else. Get yourself into the right headspace. Let yourself fully focus on this one thing, as I’m doing as I write this task.
If you need to move away from it, don’t go on your phone or another app or browser tab. Get up, move around, drink some water, shake off the overwhelm. Then start again.
We can only do one task at a time. It helps me to remember that I can only take one breath at a time. Doing can be just like breathing.
Breathe
When you’re done, take some breaths. Acknowledge yourself for the hard work. Feel the meaningfulness of doing that task. Cross it off your list.
Take a short self-care break if needed. Then look at your short list and choose another.
Repeat this until your short list is done or until you have something else on your calendar. One task at a time. Too simple, I know, but try it.
Make a Place for Things
The approach I describe above is the main approach I recommend, but it also can help to make a place for things when you have too many to manage.
For example:
• Do all your financial tasks on Wednesdays.
• Plan your week and do your weekly review on Mondays.
• Do administrative tasks and errands every Friday.
• Do household chores and yardwork on Saturdays.
• Do your email first thing in the morning and mid-afternoon.
• Exercise after work.
• Meditate before you plan and start your day.
• Read to bed.
These are just examples, of course, but you can see that by putting things in a place, you have less to think about. You know when you’ll do these things. Block them off on your calendar as well.
Simple things, executed simply, can make a profound difference.
Leo Babauta ZEN HABITS
TAX TIPS for small business owners
Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records?
Small business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return.
Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support entrepreneurs.
Set yourself up for success by following these four pillars of painless tax prep.
1. Commit to clean bookkeeping from day one Year round, effective bookkeeping is the best way small business owners can minimize tax season stress. With the wide range of accounting software out there, there’s no reason to rely on time consuming manual methods that leave room for error.
All-in-one options like Xero, KashFlow and QuickBooks automate your most important bookkeeping processes, including:
• Tracking expenses;
• Tracking sales and income;
• Creating and sending invoices and
• Managing inventory.
With your financial records all in one place and up-to date, you’re better positioned to maximize your refund, while avoiding penalties associated with incorrect or incomplete tax returns.
2. Capture every business expense
Each year, 21% of small business owners claim less than half of their business expenses, largely because they don’t have a reliable system for documenting expenditures while on the go.
Without carefully logged receipts, entrepreneurs must forfeit valuable tax deductions, sacrificing cash they could be funneling back into their business.
Cash in on claimable expenses by using a mobile app to record receipt data, track mileage and generate expense reports. As an added bonus, many of these tools sync with your all-in-one accounting software.
3. Separate business from personal
Right from day one, small business owners should clearly divide their personal and business expenses. Differentiating between the two will make it much easier to claim deductions on your tax return – and support those claims in case of an audit.
Recommended steps to separate your business and personal finances include:
• Create a separate bank account for your business, and designate a credit card solely for business purposes (this will help you track expenditures while building up your credit and borrowing power);
• Never combine business and personal expenses (for example, if you buy printer ink for your home and your business at the same time, ask for two separate receipts);
• Pay yourself a set salary from your business checking account each month (this will help you determine how your income, as well as the business, will be taxed).
4. Always consult with an accountant
Not sure exactly what you can claim as a business expense? Wondering which accounting software to use or how to interpret local tax regulations?
Consult with an accounting professional to put your mind at ease – well before the filing deadline! In ad-
dition to managing the nuts and bolts of tax preparation, regular meetings with an accountant will help you continuously improve bookkeeping practices and better understand the financial workings of your small business.
Those organizational strategies you commit to now will promote positive relations with your local tax authorities – and the long-term financial health of your company.
Worried about paying too much tax? You call my office on (07) 3399 8844 , or just visit our website at www.straighttalkat.com.au and complete your details on our page to request FREE Tax Obligation Check.
Please Note: Many of the comments in this article are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.
Copyright © 2025 Robert
Bauman.
Advantages of a Strong Memory in Business
In the competitive business environment, the ability to accurately and quickly recall information can be important for success. A strong memory is vital for various aspects of business operations, including decision-making, productivity, performance, relationship-building, personal and professional growth.
Decision making
One of the advantages of having a good memory in business is the improvement of decision-making capabilities. Executives and managers who can recall relevant details, historical data, and past experiences can make more informed decisions. This cognitive ability allows them to effectively assess options, predict potential outcomes, and choose the best course of action.
Productivity
A good memory also contributes to increased productivity and efficiency in the workplace. Employees who can recall procedures, protocols, and information without frequent reference to documents save valuable time. This efficiency allows them to focus on more complex tasks, ultimately driving business growth.
Performance
In fast-paced environments where multitasking occurs frequently, a strong memory allows individuals to handle multiple tasks and projects while retaining important information. This capability improves performance and helps ensure that deadlines are met, and objectives are accomplished.
Relationship
Building and maintaining relationships is crucial when managing a business. Whether it's with clients or colleagues, remembering names, preferences, past interactions, and significant dates can strengthen these connections. A good memory fosters trust and rapport, as it demonstrates attentiveness and genuine interest in others. To assist in recalling information about customers' names and details, one can create a database to record relevant information. Remembering a client's birthday or a detail about their family can contribute to more personalized interactions, which may lead to increased customer loyalty and repeat business. Similarly, remembering key details about colleagues and employees can facilitate smoother collaborations and effective teamwork.
Growth
Finally, a good memory contributes to personal and professional growth. Individuals who can retain and apply knowledge continuously improve their skills and competencies. This ongoing development is crucial for career advancement and achieving long-term goals.
Jim Baker www.mytools4business.com
Self-Employed Tradies Checklist
Should you start your own business as a self-employed tradie?
It’s a question that thousands of tradies ask themselves every year. Should they keep working for a wage, or take the risk of going out on their own?
The answer will depend on a wide variety of factors. We’ve put together a list of those factors to assist with your decision making.
You can think of the following headings at a checklist. Go through each one, have a good think and answer them honestly, then decide whether or not you still feel comfortable about going it alone in your trade.
Note: This checklist is for tradies considering the switch to self-employment. If you’ve already made the choice, you’d be looking for an entirely different checklist that is more practical in nature. We’ll work on that checklist next…
Why do you want to be self-employed?
This is the first question you need to ask yourself. The are no real right or wrong answers, but it will get you thinking.
Here are a few possible answers:
• I want to earn more money
• I want more flexibility
• I don’t like my boss
• I think I can do it better
• It’s just time
There will be plenty more, but these are probably the most common ones. Let’s take a closer look at each one:
I want to earn more money
This is a very common reason for a tradie wanting to go out on their own.
You see that your boss is making good money, or has an expensive house, ute, toys etc, and you want some of that for yourself.
Or maybe you see what your employer is charging you out for, and you want more of that money for yourself rather than making more money for the boss.
These are completely valid thoughts, but remember that your employer is doing a lot to earn that extra piece. They are taking on the risk of finding you work, of paying your wages and super, and the overall risk if something goes wrong on the job.
So if you want to earn that extra cash that you think your boss is making out of you, just remember that you need to accept the extra risk that comes with it too.
That’s not a bad thing at all. You might find that you really thrive with the added responsibility and risk. It’s not easy, but it can be rewarding in more ways than just financially.
I want more flexibility
This is another very common reason. Being your own boss means setting your own hours, which can be especially tempting when you have a young family to spend time with.
But if you see your boss enjoying all this flexibility and having time off, just remember that it might have taken him (or her) many years to build their business up to that level.
If they have plenty of great contacts keeping the work flowing in and an admin staff keeping the paperwork under control, of course they will have a little extra spare time.
If you’re going out on your own and need to constantly chase new work to keep the money coming in, and spend the night doing paperwork, you might find yourself with less flexibility than you had as an employee.
But that’s life as a newly self-employed tradie right? You have to start somewhere and do the hard yards to get to the point your boss might be at.
Just remember that the flexibility and working hours might actually get worse before they get better.
I don’t like my boss
Don’t laugh as this is probably more common than you think!
Maybe you love what you do, but you just don’t like the boss you’re doing it for.
Have a good think first before jumping, because unless you’re cut out for life as a self-employed tradie, you
might be better off finding a better boss rather than going out on your own.
I think I can do it better
This is another interesting one. As with the reason above, you might love what you do, but you just think you can do it better than your current employer is doing it.
You could always tell your boss or employer about your ideas, but maybe you’d prefer to use those ideas for your own benefit rather than benefiting your employer?
Have a good think about this one. Just because you can do something better doesn’t mean you’ll be a success running your own trade business.
But, if you genuinely can do it better and you have the skills to run a business, it could be a great opportunity.
It’s just time
For many tradies it’s just the natural progression. You’ve completed your apprenticeship, you’ve done a few years working for the man and now it’s time to be your own boss.
This is another perfectly valid reason, but make sure you’re still ticking all of the boxes that we’ll run through in this article.
Where will you get your business from?
Cash is the lifeblood of any business. If you’re not bringing in cash you’re not going to last as a self-employed tradie for long.
An ASIC report from 2012 indicated that 40% of businesses that failed did so due to cashflow issues. That report is a little old now, but cashflow has been the same important issue forever.
So you need to be consistently bringing in work to keep you busy and paid. Sure this seems obvious, but the majority of trade businesses that fail, fail because they couldn’t keep the work coming in.
There are two mains ways that a self-employed tradie will operate. Either you’ll subcontract to a few builders, or you’ll get your own jobs direct from the public.
Subcontracting to builders can be a great way of keeping the work flowing in, but your day-to-day working life mightn’t be much different to being an employee.
The other option is getting work directly from clients. This is more common for electricians and plumbers who can pick up maintenance work.
As a start-up trade business you’ll probably take work however you can, but the main thing at this point is to have a plan. Don’t think that a Google listing and some stickers on your ute will have the phone ringing.
If you’re unsure how you’ll find enough work to keep busy, have a good hard think about it before you quit your job.
Do you have the required business knowledge?
You could be the greatest carpenter in Australia, but if you don’t have some basic business knowledge you won’t be able to build a successful business.
You don’t need to enrol in a Bachelor of Business course, but you need to know some basics around cashflow, budgeting and quoting before you start.
Of course you can pay professionals to look after all of this for you, but for most start-up trade businesses it simply wouldn’t be feasible.
As a self-employed tradie you need to be an allrounder who’s just as handy on a spreadsheet as you are with a nailgun.
Do you like responsibility?
A lot of added responsibility comes as a trade business owner.
As an employee tradie you’ll probably have all your jobs lined up for you, you’ll have materials supplied, most of your paperwork will be looked after and ultimately you’re not legally responsible in the same way that your employer would be if things went pear-shaped.
Switching to being a self-employed tradie means all of those responsibilities now sit squarely on your own shoulders.
And remember that on top of all these extra responsibilities you’ll still have to work just as hard on the tools. In fact, during the early years you’ll probably have to work even harder on the tools than you did before.
If you’re someone who enjoys extra responsibility and pressure you might thrive in self-employment. But if you’re someone who is easily stressed, then it’s probably not a good option…
Who is depending on you?
Given that half of all new one-person businesses fail within the first three years, there is a strong chance that your business won’t go the distance.
If you’re in the 50% that don’t make it, who is relying the income you’re supposed to be generating?
If you’re a single with no dependants and no mortgage, the financial risk of quitting your job, then trying and failing in self-employment, might be quite low.
But what if you have a mortgage and a family who rely on your income? Throwing in that steady job to chase the business dream is a pretty big risk.
That extra responsibility might be what pushes you hard enough to make the business a success, or it might just bring added stress and pressure that only makes it harder to make the business work.
The easiest way to mitigate this risk, aside from being very well prepared, is to put aside a big chunk of money to get you through.
You might still fail, but at least you’ve still had money aside to keep the family fed and the mortgage paid.
One thing you should never do is switch to self-employment to get out of financial trouble. If you’re already struggling, there is a far greater chance that going out on your own will only make things worse rather than better.
Is the timing right?
Timing is everything right? There are so many factors that can affect the timing for a tradie to start their own business.
Is the economy strong? Is the building industry going well? Is it the right time of year?
All of these factors seem relevant, but in our opinion, your own ability to build your business will trump each of them.
Someone who is weak as a business owner is probably going to fail regardless of how good conditions are, and someone who is strong is probably going to succeed regardless of conditions.
A strong performer might succeed sooner by starting in good times, and a weak performer might last a little longer during good times, but the inevitable will probably still happen at some point during the cycle.
Also consider where you’re at in terms of your personal life. If things aren’t going so well, taking on the added stress of starting a trade business is perhaps not the best option.
If there was a perfect time to start a business, it’s probably when you have the lowest level of responsibility in your life.
Having no mortgage to worry about and no kids to feed will free you up financially. This could be when you’re young and have no mortgage or kids, or it could be when you’re older and the kids have left home and the mortgage is paid off.
Doing it when you’re older means you have the added benefit of wisdom and experience, but you’re also closer to the end of your career, which gives you less time to build and enjoy your business.
Doing it when you’re younger means you might not have all the necessary wisdom and experience, but sometimes being a little naïve in business can allow
you to take the risk you need to take in order to succeed. It’s a fine line though!
Is it worth the risk?
I’m writing this article as the founder of Trade Risk, so my answer is going to be yes of course!
I took the risk and started a business from scratch when I was 31 years old, and almost a decade later there’s not much I would have changed.
Mine is an insurance brokerage rather than a trade business, but many of the fundamental risks are still the same.
It has been incredibly stressful at times, but also very rewarding. You need to persevere through the good times and the bad times if you’re to have any chance at building a successful business in any industry.
You need ask yourself though if it’s worth the risk for you. What’s your risk tolerance like? If a small amount of risk can get you stressed and anxious, then it’s probably not worth it.
Before you start you need to do everything you can to minimise the risk of failure for your trade business. Getting across the following will definitely help:
• Know that you’re doing it for the right reasons
• Know where your work is going to come from
• Know that the work is going to generate sufficient cashflow
• Know how to manage the business side of your business
• Know who’s depending on you and how you won’t let them down
• Know that the time is right for you
Of course you can’t really “know” each of those 100% for sure, but at least get to a point where you’re comfortable with each of them.
Avoid These 5 Costly Accounting Mistakes
A Canadian bank recently surveyed over 500 small business owners about what they love and hate most about owning their own business.
Unsurprisingly, flexibility and feeling in control ranked first in the “love” category. Meanwhile, almost 60% said bookkeeping was hands-down their most hated task.
Most business owners understand that effective financial management is key to their success. But lack of knowledge, frustration, and even avoidance can add up to accounting mistakes that derail future growth.
Protect your business and reduce your stress by avoiding these five costly accounting errors.
Mixing personal and professional finances
From day one, business owners should have a separate bank account in which to deposit their income and pay their business expenses.
It’s also crucial to designate a business-only credit card. Come tax time, separate statements will make submitting claimable expenses quick and easy, while reducing the risk of a painful audit.
Letting accounts receivable slide
It’s frightening easy to lose track of which customers have paid you and which clients are late.
Implement a strict policy and schedule for tracking accounts receivable and pursuing unpaid invoices.
• ask customers to pay at the point of purchase or no more than 30 days later;
• contact clients to confirm they have received your invoice and to agree on a payment date;
• follow up immediately when payment dates are missed; and
• keep accurate, up-to-date records of each client’s payment history.
Investing in a cloud-based accounting solution can make AR a breeze by automating your monthly invoicing – and contacting late payers with a reminder email.
Not using tech to track your expenses
Tired of chasing down missing receipts and struggling to justify claims come tax time? There’s an app for that! Choose from numerous options, such as Receipt Bank, Shoeboxed or Expensify.
Many of these apps generate expense reports that are easy to share, or sync automatically with accounting software. Neglecting to strategize for long-term growth
Neglecting to strategize for long-term growth
Effective accounting means managing day-to-day finances while making provisions for future growth. Software and cloud-based solutions offer easy ways to track your financials, but they also generate reports and provide analytic tools SMB owners can use for future forecasting.
Familiarize yourself with the reports your software can generate to track long-term trends, identify and mitigate risk, and discover new ways to increase profitability. Talk to your accountant about which reports and metrics are most important for your particular business and how to utilize them.
Final tip: Don’t go it alone
Small business owners are rarely trained accountants. Don’t try to manage your company’s finances all by yourself.
Collaborate with a trusted professional, invest in quality IT solutions, and spend some time familiarizing yourself with relevant tools and trends.
You’ll feel empowered, which is step one to forging a more love-filled relationship with small business accounting!
Sandra Price www.tradiebookkeepingsolutions.com.au
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You Don’t Need to Feel Ready to Begin
When we are facing a hard task or a project that holds a lot of uncertainty for us, we often balk at the start.
Instead of just diving in, we decide we need to do a bunch of research. Or prepare ourselves. Or take some courses or buy some books. Something in order to get ourselves ready.
None of these are bad things! Learning, research, preparing — all are nice things to do. But we’re hoping they’ll help us to feel ready — and the moment when we feel ready will never come.
Let me repeat that: You will never feel ready. It just doesn’t happen. I remember talking to someone who signed up for 20 courses on writing over a decade. He still didn’t feel ready to start writing.
What I’m encouraging you to notice is that waiting to feel ready is a form of avoidance. And it leads to opportunity cost — if we had started a year or two earlier, we would have learned so much more, and we’d be so much further along.
So instead, I always encourage people to start before you feel ready. Take action. Learn through doing. Summon the courage to take the leap into the unknown.
We will never feel ready to leap into the unknown. But in fact, we’re always ready.
We gain the confidence through experience. Through trying and failing and learning to deal with the failures. We gain trust in ourselves through this process of falling and getting up. Trust that we can deal with anything!
So start today. Commit yourself. Take the smallest first step. Right now is the perfect time.
One way to do that, with my support and with the support of others, is to join my Fearless Living Academy. We ask you to take action, and practice this kind of commitment and courage.
Jump in, even if you don’t feel ready. This is how we begin to create change.
Leo Babauta ZEN HABITS
Does YOUR Business Reflect YOUR Passion?
When you wake up in the morning, do you feel energized about the long day ahead, eager to dive into something you love, or do you dread the thought of dragging yourself to your desk?
Your passion for your work is evident in how you discuss your business. Most likely, you embarked on your entrepreneurial journey driven by a love for your subject or product. When you speak from a place of passion, your chances of success and personal fulfillment become apparent. Conversely, if you’ve lost that passion, it will be just as clear.
In today’s world, launching and sustaining a business requires an entrepreneurial spirit and a strong desire to make an impact. If your business is merely a means
to an end, it might not last long, as any initial enthusiasm can turn into disinterest or dislike.
If your motivation for starting a business is solely to generate wealth, without the necessary skills, contacts, or experience, you may find yourself facing the prospect of closing your doors and seeking alternative income sources.
According to the Small Business Administration in the USA, and similar data from Australia, only 44% of new businesses survive to their fourth year. However, if you’re passionate about your venture, these statistics shouldn’t dishearten you. Your dedication to pursuing your dream will drive you to do whatever it takes.
Did you establish your business from a dream or vision to achieve something meaningful? Is it a concept you've contemplated for a long time, an inner calling urging you to manifest ‘the dream’ for the benefit of others?
Does your business evoke strong emotions when you talk about it? If so, you are likely fulfilling your soul’s purpose, a sentiment only those who have experienced it can truly understand.
Current statistics from the Australian Government reveal that 95% of businesses are classified as small, with nearly one million people managing businesses from home.
This number is rapidly increasing, particularly as employment opportunities become scarcer for those over 50. Starting a home-based business provides a way to create income without the significant overhead of a physical storefront.
Finding your true passion can come naturally to some, while for others, it may click into place at just the right moment. Do you ever ponder how to discover your true passion? This is a unique journey only you can undertake.
Bill Strickland, author of "Make the Impossible Possible," offers insight into this quest, stating: "Passions are irresistible... If you're attentive to your life, the things you are passionate about will persistently call to you.
They are the ideas and possibilities that naturally draw your focus, things you would pursue solely because they feel right." Strickland asserts that by chasing your passion, you unlock your deepest potential. "I never encountered a meaningful life that wasn't rooted in passion, nor a passionate life that wasn't, in some significant way, extraordinary."
Look around your community and observe those who genuinely embody entrepreneurship, following their passion.
Many aspiring entrepreneurs falter by conforming to the crowd, ultimately feeling disappointed for not pursuing their heart's desire.
As a business owner, embrace your passion for your product, service, or cause. Make a difference and let your light shine brightly.
3.5 million Australians experienced fraud last year.
This could be avoided through 6 simple steps
About 14% of Australians experienced personal fraud last year. Of these, 2.1 million experienced credit card fraud, 675,300 were caught in a scam, 255,000 had their identities stolen and 433,000 were impersonated online.
According to the Australian Bureau of Statistics latest Personal Fraud Survey, between July 2023 and June 2024, Australians lost A$2.1 billion through credit card fraud.
This was up almost 9% from the previous year. Even after reimbursements, the loss was still $477 million.
These figures do not include financial loss through identity theft, or phishing, romance, computer support and dodgy financial advice scams.
Why the increase?
Research shows the more frequently we use technology, the more likely we are to be scammed. Monica Whitty from the Cyber Security Centre, University of Warwick, found victims of cyber-frauds were more likely to score high on impulsivity measures like ‘urgency’ and engage in more frequent online routine activities that place them at great risk of becoming scammed.
We communicate via email, we shop online, use dating apps and allow technicians to remotely access our computers. Meanwhile, amazing “get rich quick” opportunities are apparently being liked by our friends on our socials almost every day.
But too many of us do not stop and think, “is this legitimate?” It is no wonder we see personal fraud and scams increase every year.
While the Australian Bureau of Statistics figures suggest older Australians (aged 45 and over) are more exposed to card fraud, research has found demographics are not a significant predictor of fraud victimisation.
Taking risks
Being too trusting, drives complacency, which produces gullibility. Think about an online dating sites. The site uses a multi-factor authenticator, it requires you to authenticate your photo, password protect your profile and read the scam warnings.
A site’s apparent legitimacy increases your trust. Research has found if you perceive a platform to be legitimate you could be exposed to romance fraud. Fraudsters may be operating within a site, even if it is legitimate.
Another strong predictor of exposure to online fraud is self-control. Self-control theory predicts individuals with low self-control tend to pursue their own self-interest without considering the negative consequences.
Simply, if the investment scheme looks “too good”, they will mostly likely click on the link and get scammed.
Giving away too much
Some individuals are prone to self-disclosing personal information online – and scammers love personal information. Self-disclosure is defined as the amount of information a person decides to make common knowledge.
Sometimes, we disclose, even when we don’t intend to. A common phishing technique on social media is status updates that read, “Your porn star name is your first pet’s name and the first street you lived on.”
They’re interesting, funny and bring on a healthy dose of nostalgia, but the answers to those questions that you tap in for all to see are also most likely to be your security questions on your bank accounts.
The most common scams in 2023-2024:
Buying or selling scams (1.4% or 308,200)
Information request or phishing scams (0.7% or 148,800)
What is the government doing to protect me?
The Australian government recently passed legislation which targets scams. It places increased responsibilities on banking and finance, telecommunications and digital platforms organisations to protect customers.
Suspicious numbers can now be accompanied a warning of “potential fraud” on your smartphone screen. Banks are also informing customers about the latest scams. Some banking transactions can verify the identity of the payment recipient, to ensure the details you have match the actual account holder.
While these will not stop all scams, they are a step towards reducing the number of victims and the amount of money lost to fraudulent approaches.
Six steps to protect yourself
There are some small but powerful steps we can all take to reduce the likelihood of financial harm.
1. Passwords: it is important to have strong, unique passwords across your accounts. Using a password manager can help with this.
2. Multi-factor authentication: many platforms will allow you to add extra layers of security to your account by using one-time passwords, authenticator apps, or tokens.
3. Review privacy settings: be aware of the different settings on your accounts and ensure you are in control of what information you provide and what can be accessed by others.
4. Be vigilant: know what you see and hear may not be real. The person or company you are communicating with may not be authentic. It is okay to be sceptical and take time to do your own checks.
5. Money transfers: never send money you are not willing to lose. Too often, people will send money before realising it is a scam. Never feel rushed or forced into any financial decision. It is OK to say no.
6. Credit monitoring: if you know or suspect you have been scammed, you can enact a credit ban, meaning no one can access your details or take further action in your name. This can be a good short-term solution.
And if you are scammed …
Anyone can report money lost in a scam to ReportCyber, the Australian online police reporting portal for cyber incidents. If you have received scam texts or emails, you can report these to Scamwatch, to assist with education and awareness activities.
Gary Mortimer Professor of Marketing and Consumer Behaviour, Queensland University of Technology
IMPORTANT Contacts
Aussie Painters Network aussiepaintersnetwork.com.au
National Institute for Painting and Decorating painters.edu.au
Australian Tax Office ato.gov.au
Award Rates fairwork.gov.au
Australian Building & Construction Commission www.abcc.gov.au
Mates In Construction www.mates.org.au
Workplace Health and Safety Contacts
Comcare
WorkSafe ACT
Workplace Health and Safety QLD
WorkSafe Victoria
SafeWork NSW
SafeWork SA
WorkSafe WA
NT WorkSafe
WorkSafe Tasmania
comcare.gov.au worksafe.act.gov.au worksafe.qld.gov.au www.worksafe.vic.gov.au www.safework.nsw.gov.au www.safework.sa.gov.au commerce.wa.gov.au/WorkSafe/ worksafe.nt.gov.au worksafe.tas.gov.au
actcancer.org cancercouncil.com.au cancercouncilnt.com.au cancerqld.org.au
cancersa.org.au cancervic.org.au
cancerwa.asn.au
